Why it matters: The deal is a fresh validation point for Antares, a Scorpion Therapeutics spinout built around the idea that some \u201cundruggable\u201d cancer targets can be reached with better chemistry, screening and computational tools.<\/p>\n
Backstory: Antares launched in 2025 with $177m in Series A financing and three preclinical precision-medicine assets from Scorpion, after Eli Lilly acquired Scorpion\u2019s lead PI3K\u03b1 programme in a deal worth up to $2.5bn.<\/p>\n
Scorpion had built a reputation for finding novel binding sites, including a hidden pocket on PI3K\u03b1. Antares inherited the team and capabilities behind those efforts.<\/p>\n
Zoom in: Antares will lead the research phase and apply its platform to a limited number of historically undruggable oncology targets. Novartis will hold options to advance programmes after the research stage.<\/p>\n
The context: The Novartis pact is Antares\u2019 first publicly disclosed deal since its launch. It also gives the company non-dilutive funding as it advances its own pipeline, including a lead precision-oncology programme expected to enter the clinic in 2026.<\/p>\n
Antares also carries dealmaking history from Scorpion. AstraZeneca paid $75m in 2022 for a transcription-factor collaboration, while Pierre Fabre later struck a deal worth up to $553m for two preclinical lung cancer assets.<\/p>\n